Next Shareholder Discount

[Dave350]

Right, I'm in the process of buying a house and came across the Next Shareholder discount, which means you need 100 shares held on the 1st of April. (£3.8k at current prices). If buying a Sofa/Bed (and a few other small bits), both of which I had already seen in Next Home which I liked, this would save me about £750.

Anyone dealt with this before? When is the latest you can buy and earliest you can sell?

http://www.nextplc.co.uk/investors/shareholder-inf...
http://www.hl.co.uk/shares/shareholder-perks

[Marcellus]

Historically if the entitlement date is the 1st April, the latest you could buy the shares would be during the trading day of the 31st March and the earliest you could sell them would be during the trading day of the 2nd April.

[Dave350]

Thanks!

[8.4L 154]

Marcellus said:

Historically if the entitlement date is the 1st April, the latest you could buy the shares would be during the trading day of the 31st March and the earliest you could sell them would be during the trading day of the 2nd April.

It would be easier and better to allow a bit of leeway due to the grey area between transaction date and settlement date and therefore purchase them so the transaction is settled by the record date which can be quite a considerable time period if you purchase your shares by visiting a bank and buying certificates. Typically its three days if your buying in a nominee account online.

If you don't allow for this there is a chance you wont automatically be included in the benefit, you may be able to reclaim the benefit from the previous holder, the scheme rules may or may not allow this. You also need to make sure if your buying in a nominee account that your platform can and will request the benefit on your behalf and that the scheme rules allow this as in a nominee account your name wont be directly on the share register.

Disclaimer: not a next shareholder or user of this particular benefit, but did benefit from the BA discount and witnessed a relative miss out due to buying certified shares in a bank too close to the record date.

[RL17]

One off voucher usually expires 31 Oct and HL send out a little while after the date. May take a while instore especially if you buy a few things instore and order some more. usually fees of £12-13 in and out plus 0.5% stamp duty and also beware any exit fees on closing down a stocks & share account.

[Dave350]

Purchased yesterday.

101 shares for £4365. (Including HL £12 fee + SD of c£20).

Retail had a good day today so the £30 of fee's has been covered off now, just have to hope they hold as this level till next week.

My Boohoo shares (also retail) went up a good £500 today!